As part of our coverage of Total Retail's recently released Top 100 Fastest-Growing Retailers report, which ranks publicly traded retailers on year-over-year net sales growth, we will be highlighting a few of the companies on this year's list. We want to give you insights and analysis on how these retailers were able to grow sales (and in many cases net earnings) in an ultra-competitive retail environment. This week we feature Sleep Number, the manufacturer and retailer of Sleep Number beds and bedding accessories. Sleep Number posted a 10.16 percent year-over-year sales increase in its 2017 fiscal year.
So what's driving Sleep Number's success? The company’s consumer innovation strategy and business model.
“Our investments over the past six years have strengthened our competitive advantages of proprietary sleep innovations, exclusive distribution, and lifelong customer relationships,” says Leah Guimond, a Sleep Number spokesperson. “These advantages and our relentless focus on the consumer to deliver proven quality sleep drive our top-tier total shareholder returns.”
Sleep Number plans to sustain its positive sales momentum by using technology to continually enhance its products and its customers’ sleep. The retailer’s success will also be driven by its focus on “understanding, anticipating and delivering on consumer needs,” Guimond says.
Furthermore, Sleep Number is building its reputation on quality, from quality sleep solutions to quality sleep data to quality sleep.
For example, Sleep Number is the official “Sleep + Wellness” partner of the National Football League. All active NFL players are offered a Sleep Number 360 Smart Bed, and are encouraged to discuss their experiences with the bed on social media.
“The NFL players’ engagement and conversations about their Smart Beds is proof that you can up your game with smarter sleep every night,” Guimond says.
To see the full rankings, as well as profiles of some of the other companies featured on this year's list, download Total Retail's eighth annual Top 100 Fastest-Growing Retailers list today!
Related story: Total Retail's Top 100 Fastest-Growing Retailers